Hibbett (NASDAQ:HIBB) PT Lowered to $50.00 at Robert W. Baird

Hibbett (NASDAQ:HIBB – Get Rating) had its price objective reduced by Robert W. Baird from $80.00 to $50.00 in a research report issued to clients and investors on Friday, The Fly reports. Robert W. Baird’s price target suggests a potential upside of 27.58% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Bank of America downgraded shares of Hibbett from a “buy” rating to an “underperform” rating in a research report on Friday. Jefferies Financial Group began coverage on Hibbett in a report on Tuesday, March 14th. They issued a “hold” rating and a $69.00 price target on the stock. Benchmark reaffirmed a “buy” rating and set a $80.00 price objective on shares of Hibbett in a research note on Monday, March 6th. Telsey Advisory Group reissued an “outperform” rating and issued a $80.00 price objective on shares of Hibbett in a research note on Monday, March 6th. Finally, StockNews.com cut Hibbett from a “buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Hibbett presently has an average rating of “Hold” and an average price target of $72.80.

Hibbett Price Performance

HIBB traded down $4.97 during trading on Friday, hitting $39.19. The company’s stock had a trading volume of 1,202,446 shares, compared to its average volume of 280,147. The firm’s 50 day moving average price is $55.70 and its 200-day moving average price is $63.28. The stock has a market cap of $499.67 million, a PE ratio of 4.08, a PEG ratio of 0.39 and a beta of 1.58. Hibbett has a twelve month low of $38.45 and a twelve month high of $75.38.

Hibbett (NASDAQ:HIBB – Get Rating) last released its quarterly earnings data on Friday, March 3rd. The company reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.05). The business had revenue of $458.30 million during the quarter, compared to analyst estimates of $476.57 million. Hibbett had a return on equity of 38.15% and a net margin of 7.50%. Hibbett’s revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 EPS. Equities analysts anticipate that Hibbett will post 9.3 earnings per share for the current year.

Insider Transactions at Hibbett

In related news, Director Terrance G. Finley sold 5,605 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $71.65, for a total transaction of $401,598.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hibbett news, Director Terrance G. Finley sold 5,605 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $71.65, for a total value of $401,598.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James A. Hilt sold 8,154 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $61.18, for a total value of $498,861.72. Following the completion of the transaction, the director now owns 2,380 shares of the company’s stock, valued at $145,608.40. The disclosure for this sale can be found here. Insiders have sold a total of 14,473 shares of company stock valued at $943,300 over the last 90 days. 2.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HIBB. Amundi raised its holdings in Hibbett by 15.2% in the 4th quarter. Amundi now owns 1,222 shares of the company’s stock valued at $87,000 after acquiring an additional 161 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Hibbett by 1.0% in the 4th quarter. SummerHaven Investment Management LLC now owns 16,971 shares of the company’s stock valued at $1,158,000 after buying an additional 169 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its position in shares of Hibbett by 0.8% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 24,802 shares of the company’s stock valued at $1,463,000 after buying an additional 189 shares during the last quarter. KBC Group NV grew its position in shares of Hibbett by 24.8% in the 1st quarter. KBC Group NV now owns 1,182 shares of the company’s stock valued at $70,000 after buying an additional 235 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its stake in shares of Hibbett by 0.6% in the 1st quarter. Brandywine Global Investment Management LLC now owns 38,764 shares of the company’s stock valued at $2,286,000 after purchasing an additional 239 shares during the period. 97.94% of the stock is currently owned by institutional investors.

About Hibbett

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Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.